Gas storage

Energy Transfer Adds 6,000 Miles of Pipeline with $3.25 Billion WTG Midstream Acquisition

WTG's assets include a 6,000-mile pipeline network that serves the Midland Basin, eight processing plants with a total capacity of 1.3 billion cubic feet per day, and two new plants that are under construction.

Biden Administration To Release 1 Million Barrels of Gasoline To Lower Summer Prices

This gasoline, stored in New Jersey and Maine, will be sold in increments of 100,000 barrels through a competitive bidding process to ensure it reaches local retailers before the July 4 holiday.

Conduit Power and Riley Permian Expand Partnership for ERCOT Power Sales

Plans include the construction of 100MW natural gas-fueled generation and battery energy storage systems across multiple West Texas facilities, slated for commercial operations by 2025.

OMV Warns Gazprom May Halt Gas Supplies

Austrian oil and gas group OMV said on Wednesday that gas supplies from Russia's Gazprom may be suspended in connection with a foreign court ruling, without identifying the case but assuring the market it would have replacement cover.

Piñon Midstream Boosts Sour Gas Capacity by 50% in Delaware Basin

Piñon Midstream has announced a significant increase in its sour gas treating capacity and an expansion of its infrastructure in the Delaware Basin.

Challenges to Growth Remain Key Story in Appalachian Basin

The Marcellus Shale and Point Pleasant-Utica Shale formations of the Appalachian Basin contain an estimated mean of 214 Tcf of undiscovered, technically recoverable continuous resources of natural gas, according to the United States Geological Survey.

RWE Gas Storage West Launches Inquiry for Hydrogen Storage Demand

RWE Gas Storage West has initiated a preliminary market survey, inviting hydrogen producers, users, industrial firms, and traders to register their future hydrogen storage requirements until June 2024.

Uzbekneftegaz in Talks to Join Azerbaijan's Shah Deniz Gas Project

Uzbek energy firm Uzbekneftegaz is in talks with Azerbaijan's SOCAR over joining a project to develop Shah Deniz, the largest gas field in the Azerbaijani section of the Caspian Sea, an Uzbek official said on Tuesday.

Phillips 66 to Acquire Pinnacle Midland for $550 Million

Pinnacle's assets include the Dos Picos natural gas complex with a processing capacity of 220 million cubic feet per day (MMcf/d), and 80 miles of pipelines.

UAE's ADNOC Acquires Stake in NextDecade's Rio Grande LNG Project

ADNOC has acquired an 11.7% stake in NextDecade's Rio Grande LNG export facility in Texas and entered a supply agreement, marking the UAE energy giant's first large investment in the United States.

Spotlight on Marcellus: Prolific Gas Play Keeps Rolling as Caution Persists

At the end of the first quarter of 2024, with natural gas prices depressed, the prolific Marcellus Shale gas play rolled along, albeit at a slower pace than usual with some producers cutting back production in March with a wait-and-see attitude toward prices.

QatarEnergy CEO: Qatar to Sign More Long-Term LNG Contracts This Year

Qatar has not had difficulty securing long-term liquefied natural gas contracts and will sign more this year, QatarEnergy CEO and State Minister for Energy Saad al-Kaabi said at an economic forum on Wednesday.

U.S. Gas Surplus Forecasted to Vanish by End of Winter 2024/25

U.S. gas inventories are nearing record highs for this time of year, propelled by exceptionally mild temperatures during the winter of 2023/24, attributed to the El Nino weather phenomenon.

Enbridge Gas Invites Bids for Peak Storage at Dawn Hub

Enbridge Gas has announced a binding open season for peak storage services at the Dawn Hub storage facility, with service starting as early as April 1, 2025.

New Fortress Delays Start of Mexico's First LNG Plant to Late May

New Fortress Energy said on Wednesday it delayed the start of its Altamira LNG plant in Mexico to May and expects to export its first cargo in June after an incident a few days before the country's first LNG export plant was due to begin production.

Sinopec in Talks with Pembina Pipeline for LNG Offtake, Cedar LNG Stake, Sources Say

China's Sinopec is in discussions with Pembina Pipeline Corp. for an LNG offtake agreement and equity stake in the Canadian company's proposed Cedar LNG project, sources said.

Natural Gas Flows to Freeport LNG in Texas Reach Two-Month High

The amount of natural gas flowing to Freeport LNG's export plant in Texas rose to a two-month high on Sunday in what energy traders said was another sign that the plant was wrapping up a series of outages over the past month or so.

Kinder Morgan-Backed Gas Pipeline Expansion Prevails in U.S. Appeals Court Decision

The Kinder Morgan-backed Evangeline Pass Expansion project would expand existing pipelines to feed more fuel to Venture Global's Plaquemines liquefied natural gas export terminal in the Gulf of Mexico.

Energy Transfer Subsidiary Sunoco and NuStar Energy Merger Receives Green Light from Unitholders

The acquisition grants Sunoco access to NuStar's extensive transportation and storage infrastructure, encompassing approximately 9,500 miles of pipeline and 63 terminals.

Russia's Gazprom Sees Worst Loss in Decades as European Gas Sales Collapse

Kremlin-owned gas giant Gazprom said on Thursday it plunged to a net loss of $6.9 billion in 2023, its first annual loss in more than 20 years, amid dwindling gas trade with Europe, once its main sales market.

Targa Resources Beats First-Quarter Core Profit Estimates on Higher Transportation Volumes

Targa Resources beat Wall Street estimates for first-quarter core profit, as the pipeline operator benefitted from higher volumes of natural gas liquids (NGL) transported through its system.

Shell Smashes Forecasts with $7.7 Billion Quarterly Profit Driven by Strong LNG Performance

Shell reported first-quarter profit of $7.7 billion on Thursday, exceeding expectations as disruption to Red Sea shipping and Russian refining boosted oil trading and liquefied natural gas production rose.

Tellurian Sends Production Workers Home Amid Talks for Haynesville Shale Sale

The Houston-based company has been holding talks with potential buyers to sell its Haynesville shale gas business to raise capital for its proposed Driftwood LNG export plant.

U.S. Natural Gas Prices Retreat Amid High Storage Levels Despite Increased LNG Demand

U.S. natural gas futures eased on Tuesday, pressured by large storage levels, after marking its best day in over two years in the previous session, helped by forecasts for more demand than previously expected with an increase in feedgas to Freeport LNG's export plant in Texas.

QatarEnergy Inks $6 Billion Deal for 18 LNG Vessels with China's CSSC

QatarEnergy has finalized an agreement with China State Shipbuilding Corp. (CSSC) for the construction of 18 state-of-the-art LNG vessels, each boasting a capacity of 271,000 cubic meters.

U.S. LNG Export Flows Surge to Three-Week High as Texas Freeport Boosts Intake

The amount of natural gas flowing to the seven U.S. LNG export plants was on track to rise by about 5% to a three-week high on Monday as Freeport LNG in Texas started to pull in more feedgas, data from financial firm LSEG showed.

Baker Hughes Wins Contract for Huge Aramco Gas Expansion Project

Oilfield services provider Baker Hughes said on Tuesday it has received an order to supply equipment for the third phase of oil giant Aramco's gas network expansion project in Saudi Arabia.

Global News April 2024

Latest industry developments from around the world!

Oman LNG Inks 10-Year Supply Deal with TotalEnergies for 800,000 Tons Annually

Oman LNG and TotalEnergies, one of its shareholders, have signed a sale and purchase agreement to supply 800,000 metric tons per year of liquefied natural gas (LNG), the companies said on Monday.

Texas LNG Expands Offtake Capacity with EQT, Nears Full Permitted Capacity

Texas LNG, a planned four MTPA LNG export terminal in the Port of Brownsville, Texas, has broadened its partnership with EQT by securing a second natural gas liquefaction services agreement for an additional 1.5 MTPA of LNG over 20 years.